11 Jun 2015
USD/CAD wants more above 1.2300
FXStreet (Edinburgh) - A better tone in the US dollar has lifted USD/CAD through the 1.2300 barrier, advancing to session peaks near 1.2330.
USD/CAD bounces off 1.2200
The pair is posting gains for the first time since Monday, advancing more than a big figure after finding decent support around the 1.2200 handle on Wednesday. Recall that the initial offered tone in USD plus a recovery in crude oil prices played against the greenback during the first half of the week, although that trend seems to have been interrupted so far.
Second tier data in Canada will leave the attention to US Retail Sales (1.1% exp.) and Initial Claims (277K exp.).
USD/CAD key levels
At the moment the pair is up 0.62% at 1.2332 and a break above 1.2352 (high Jun.10) would aim for 1.2399 (Tenkan Sen) and then 1.2442 (high Jun.9). On the other hand, the immediate support aligns at 1.2199 (cloud base) followed by 1.2173 (low May 22) and finally 1.2170 (low May 20).
USD/CAD bounces off 1.2200
The pair is posting gains for the first time since Monday, advancing more than a big figure after finding decent support around the 1.2200 handle on Wednesday. Recall that the initial offered tone in USD plus a recovery in crude oil prices played against the greenback during the first half of the week, although that trend seems to have been interrupted so far.
Second tier data in Canada will leave the attention to US Retail Sales (1.1% exp.) and Initial Claims (277K exp.).
USD/CAD key levels
At the moment the pair is up 0.62% at 1.2332 and a break above 1.2352 (high Jun.10) would aim for 1.2399 (Tenkan Sen) and then 1.2442 (high Jun.9). On the other hand, the immediate support aligns at 1.2199 (cloud base) followed by 1.2173 (low May 22) and finally 1.2170 (low May 20).